Foreign execs' view on China's economy: 2023 onward (2)

How Jit Lim, managing director, Alvarez & Marsal Asia. [Photo provided to chinadaily.com.cn]

Q1: How has your company's performance been in China this year? Do you plan to further expand your footprints in China next year?

A1: This year, A&M has significantly extended its offering in China and across Asia by scaling up its performance improvement and transaction advisory group teams, including senior hires in China.

This demonstrates our company's commitment to delivering world-class services and solutions to meet client demand in the dynamic business landscape of the region.

A&M recognizes the importance of the Chinese market and firmly believes in the long-term growth and transformation of the Chinese market.

Q2: What's your evaluation and expectations on China's business environment as well as a higher level of opening-up?

A2: China is one of the largest trading partners for many major global economies, with its cross-border trade and outbound investments from China expected to continually grow. All these factors are driving demand for advisory services for international companies and Chinese corporations operating globally.

Q3: What are your expectations for China's economy in 2024?

A3: China has entered a new economic cycle of quality growth. The new development model creates a significant market demand for business transformation, outbound expansion, and M&As. Improving cost efficiency to refocus/reinvest in business has also become a vital pivot for businesses to capture market upside. These areas align well with A&M's expertise, making us well-positioned to help our clients.

We anticipate further healthy and sustainable economic development in China in 2024 and beyond.